The OilSpot News by Telvent DTN
Monday, August 8, 2011 VOLUME 10 ISSUE 465  

NuStar, EOG to Expand Offloading, Storage at St. James Terminal
PAA Hikes Capacity on Mesa Pipeline by Roughly 100,000 Bpd
Valero Completes Purchase of Pembroke Refinery in UK
NOAA Hikes Number of Expected Storms for Current Hurricane Season
CME: Overall Trade Volume Up 17% in July while Energy Dips 4%
ICE’s Average Daily Volume in July Up 14% on Year at 1.3 Million
California’s Gasoline Consumption Slid 4% in April on High Prices
Atlas Enters Crude Transportation Market in Odessa

US Retail Gasoline Average Up 1.2cts to $3.711 on Aug. 1
US Retail Diesel Average Slips 1.2cts into August at $3.937
Propane Stocks Up 1.2 Million Bbl Week-ended July 29

Ethanol VEETC Compromise Proposal Excluded from Debt Deal
EIA shows 6.8 Million Bbl Drawn Down in SPR Crude through July 29
EPA says Reducing Barriers to Carbon Capture, Sequestration
RFA Offers Free E15 Dispenser Labels to Gasoline Retailers
EPA Cites N.Y.’s Schmitt Sales for Storage Tank Violations
Enterprise Names Storie to Lead Gulf Coast NatGas Group
EPA Issues Draft Policy Ensuring Scientific Integrity

Economic Indicators

Weekly Rack Postings

Rule Changes Underway
CFTC Approves Three New Swaps Regulations under Dodd-Frank Act

The Commodity Futures Trading Commission on Thursday (8/4) approved three final rulemakings aimed at increasing transparency in the commodities markets under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The first rulemaking requires all swaps, whether cleared or not, to be reported to a Swap Data Repository that’s registered with the CFTC so regulators can monitor the market to see if traders are complying with the statute.


New Supply Changes Economics
WTI Price Discount Shifting Midwest, Gulf Crude, Products Movements

Sourced from Wikipedia

Widening price discounts for inland benchmark West Texas Intermediate crude oil relative to coastal and global crudes has caused significant shifts in past patterns of crude oil and refined product movements within the United States, according to the Energy Information Administration.

With the Brent-WTI spread more than $15 per bbl, shipping economics provide a strong incentive for increasing petroleum movements out of the Gulf Coast, even using high cost modes of transportation such as rail and trucks. Barge, rail and truck transport from the Gulf Coast to the Midwest would likely continue to increase in the absence of new pipelines, EIA said.


Still Pointed Up
Ernst & Young sees Higher Oil Prices, Demand next 3 to 5 Years

Oil demand and prices should continue to climb in the third quarter even with ongoing uncertainty with respect to economic recovery, deficit reduction in the United States and the debt crisis in Europe, according to the quarterly outlook released Aug. 3 by Ernst & Young LLP.

In the first quarter, with expectations for continued economic improvement and as a result of supply disruptions from the Middle East oil prices rose to more than $100 bbl. After peaking in the second quarter, crude prices fell back slightly with the announced stock release by the International Energy Agency on June 23, but started to gain again through July. However, oil prices are again dropping back as the economic recovery loses steam.


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The OilSpot News from Telvent DTN
August 1, 2011
Vol. 10 Issue 464
The OilSpot News from Telvent DTN
July 25, 2011
Vol. 10 Issue 463
The OilSpot News from Telvent DTN
July 18, 2011
Vol. 10 Issue 462
The OilSpot News from Telvent DTN
July 11, 2011
Vol. 10 Issue 461
The OilSpot News from Telvent DTN
June 27, 2011
Vol. 9 Issue 460


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